Misconceptions Play A Prominent Role In My

Making An Investment Decision Is Like Formulating A Scientific Hypothesis And Submitting It To A Practical Test.

There Is No Doubt That The Countries That Now Have A Very Large Debt Have Not Introduced The Kind Of Structural Reforms That Germany Did And Are Therefore At A Disadvantage. But The Problem Is That This Disadvantage Is Becoming Even More Pronounced Through The Punitive Policies In Place.

The Generally Accepted Theory Is That Financial Markets Tend Towards Equilibrium, And...discount The Future Correctly. I Operate Using A Different Theory, According To Which Financial Markets Cannot Possibly Discount The Future Correctly Because The Do Not Merely Discount The Future; They Help To Shape It.

Market Prices Are Always Wrong.

The Only Thing That Could Hurt Me Is If My Success Encouraged Me To Return To My Childhood Fantasies Of Omnipotence - But That Is Not Likely To Happen As Long As I Remain Engaged In The Financial Markets, Because They Constantly Remind Me Of My Limitations.